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Landlord Studio, Property Management

The Benefits of Property Management Software for Landlords

When it comes to property management software there are plenty of options for you to choose from. 

It is likely this tyranny of choice that has led you here. Questions like; what are the advantages of a property management app? Why should I be using one? And, which software is the right one for me?

In this article we can hopefully clear all this up for you and help you decide if Landlord Studio is the best software option for you and your needs.

First things first then.

Why Would you Need a Property Management Software?

This is the easiest question to answer. It makes life easier.

You can avoid the piles of paper files that come with managing your standard property. Keep all the data and files stored securely in the cloud which makes it accessible from anywhere in the world. Update your accounts on the go from with a mobile app like Landlord Studio. And Automate time consuming tasks – giving your back your free time.

You only have to look at our online reviews to figure that one out.

The Benefits of Property Management Software
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Plus, you can easily manage your accounts – generate professional reports, and gain clear data overviews of your properties performances and your overall portfolio performance easily.

Read: What we Learnt from Managing Properties from Abroad

But that isn’t all. Here is a breakdown of the advantages of property management software.

8 Top Benefits of Property Management Software

1) Cost

Property management software is now very affordable. And it has the benefit of potentially saving you a huge amount of time and money.

2) Manage your Accounting

Doing your accounts, if you’re anything like me is a task that I generally like to avoid. However, leaving it all till the end of the tax year is a pretty terrible idea. Using a property management app like Landlord Studio will allow you to quickly and easily manage your accounts anywhere, anytime with just a few clicks on your smartphone.

Log payments in the application, record expenses, note who you’re paying, when payments are made or received, digitise receipts and automate complex accounting reports.

3) Communication

Keeping all the information about tenants and contractors in one place and associated with the relevant properties helps remember who is who. On top of that, you can easily automate  communications like rent reminders saving you time and ensuring prompt payments.

Benefits of Property Management Software

4) Automation 

Automating reminders, not just for your tenants but for yourself means you will never forget about important things again. For example, set a reminder for your six months property inspection at the beginning of the lease. Make managing your time easy.

Produce professional reports showing your profit and loss, expenses, rent collections, etc. This will save you hours of time were you would otherwise have to manually enter data into excel, or whatever reporting system you currently use.

It will also remove a margin for human error, and allow you to spend more time validating the numbers and analysing them for discrepancies.

5) Accessibility

Instead of having all your files stored on one computer or going really old school and using paper files – you can keep everything stored securely in the Cloud. What this means is you can access your (well organised) data and files anywhere.

Plus, when you use an app like Landlord Studio, you can access your and update them from any device. Giving you the freedom to ditch the office and truly manage your properties anywhere!

6) Scalability

Manually managing your properties takes time. By using property management software you can save yourself a whole load of time – which makes managing your properties easier for a start, but also means you have more time to do other things – like invest and manage more properties!

Streamlining operations means you can manage more, and in doing so increase your revenue and profit.

7) Simplified Backup & Recovery

Having everything automatically stored online means, not only access anywhere in the world, but also that your data and information is backed up and stored safely for if you ever need in the future.

Okay, we could go on and on here. However, we think you get the point.

Save time and make more money with ease.

8) Data analysis

For a business to prosper, it is necessary that its owners make accurate, data-driven decisions. However, their data and its analysis may be incorrect when gathered and performed manually.

With property management software, all the information you introduce into the system is stored, which enables you to run thorough analysis and gives you insights on your business. Proper data analysis allows you to spot any inefficiencies and discover new opportunities.

Related: The Benefits of Software and Automation in Property Management

Why you Should Consider a Mobile First Property Management App over Desktop Software

Mobile is the future. 

Related: 7 Ways Proptech is Changing the Real Estate Industry

Let me start with an anecdote. When I was travelling through the remote mountains of northern Vietnam I stayed with locals on several occasions. They were rice farmers and had been living that way for centuries. Their homes were clean and basic; their hospitality legendary. They didn’t have air conditioning. They had minimal electricity – many of them didn’t have running water and the roads were not roads as we would understand them. But they all had smartphones.

The point I’m making is that wherever you go in the world you are likely to have access to the internet, even if it’s a remote farming village in the Truon Son mountain range. And you are going to have your phone with you. 

If you use a property management app. You will be able to access all your data, and update your accounts on the go.

This gives you the freedom to do what you actually want to do wherever you are whenever you need to, instead of being tied to your office.

Is Landlord Studio the Right Property Management App for you?

We’ve talked about the many benefits of property management software – we’ve outlined the pros of a property management App over desktop software.

But is Landlord Studio the right solution for you?

This is perhaps the hardest question to answer.

Benefits of Property Management Software

You can use Landlord Studio (previously Property Buddy) on any and all devices – iOS, Android and Desktop. It was one of the very first mobile property management apps. Since then a number of other companies have followed suit and there are a plethora of options out there for you to explore. Are we better than them? Perhaps, perhaps not.

The simple truth though, is that over the last couple of years we have spent a lot of time listening to what our users want, and every update and feature development we’ve made has been user driven.

We are aggressively priced with no hidden fees or costs. 

Our Property Management App is designed by Landlords for Landlords and as far as we can tell we must be doing something right because our users love our app.

Our work isn’t done though. There is room for improvement, we know that and we have some very exciting feature developments planned over the next 24 months (each of these features has been requested from our users and then voted on by as many would complete our surveys).

All we can really say then, is see for yourself.

We offer a free 30 day trial to make sure you know if this is the software for you.

Try Landlord Studio Free Today
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Ben Luxon

"Ben is an author and real estate enthusiast. His interest in all things entrepreneurial has led him to work with real estate professionals all over the world, distilling their knowledge into articles and Ebooks. His love of travelling has taken him to over 10 countries in the last year, where he has sampled the craft beer of them all."

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